The White House announced that talks between the United States and China regarding a trade deal have made “substantial progress,” yet no official deal has been announced at this time, leaving investors in doubt.<\/p>\n
According to a May 11 announcement<\/a> from the White House, more details on the trade talks and the proposed “agreement” will be revealed on May 12.<\/p>\n \u201cI am happy to report that we made substantial progress between the United States and China in the very important trade talks,” Treasury Secretary Scott Bessent said in a joint statement with US trade representative Jamieson Greer.<\/p>\n US Treasury Secretary Scott Bessent tells the media that the US-China trade walks were productive. Source: <\/em>Fox News<\/em><\/a><\/p>\n “We will be giving details tomorrow, but I can tell you that the talks were productive,” Bessent continued, without mentioning the word “deal” once in his statement.<\/p>\n Greer made mention of the deal but did not give any details on the talks, leaving investors in doubt<\/a> about the substance of the announcement, as market participants continue to monitor the ongoing trade tensions<\/a> for signs of relief for financial markets.<\/p>\n Related: <\/strong><\/em>Bitcoin nears $100K as Trump set to reveal trade deal with UK<\/strong><\/em><\/a><\/p>\n Although traditional financial and digital asset markets have recovered and retraced some of the value lost following the initial price shock<\/a> brought on by US President Donald Trump’s sweeping trade tariffs<\/a>, investor uncertainty still looms over asset markets.<\/p>\n The Trump administration has flip-flopped on its tariff policies, reversing course on trade proposals<\/a> or softening its rhetoric several times, leaving investors on edge and uncertain about investing in riskier assets like tech stocks and crypto.<\/p>\n In April 2024, the US Customs and Border Protection, at the behest of the Trump administration, announced<\/a> that select tech products would be exempt from tariffs<\/a> including, smartphones, processing chips, computers, and other electronics.<\/p>\n However, US Commerce Secretary Howard Lutnick walked back the electronic tariff exemptions<\/a> one day following the announcement.<\/p>\n Lutnick said that the tariff exemptions would only be temporary until administration officials decided on a comprehensive tariff regime that featured different tariff rates for economic sectors.<\/p>\n The lack of a comprehensive, decisive trade policy has called the Trump administration’s plans into question<\/a>, with many observers saying that the trade tariffs will only create more discord in financial markets and the broader economy.<\/p>\nTrump’s tariffs cause chaos in markets and draw widespread criticism<\/h2>\n